The channel range today is $1.06-$1.23, with a break below we are looking to back the truck up and buy in at $0.86-$0.91, with a break above we are looking to see if XRP can “escape” the trend channels and hit its ultimate target at around $13.68. I do not believe we will hit that top target until December 11, 2021, and I am looking for the true “escape” upwards in mid November.
I will post a chart tomorrow with comparison explaining this analysis. I truly believe I have a firm grasp on the XRP price movement for the next 3 months by using comparison and the fibonacci channels. Predictions based on those two tools have been border-line crystal ball accurate.
Bottom Line: Last week, the recent drop from September 6 looked like it might extend through the present channel, where we had an excellent buying opportunity in that $0.86-$0.91. It still might. Last week, I believed that was more likely than not. This week so far, however, considering buy and consolidation among other things, I think it is more likely we do not head to that level (now), though as I said, it is still possible. If I was 60-40 last week, I am 40-60 this week on that occurring. We are still looking for XRP to decide what it wants to do. A decision will be made soon. Envision a from the August 15 high (not the Sept 6 high) diagonally down toward September 19, and you will see. A decision must be made, and a trend must break. In the event of an impulse break upwards, I believe it is too early to be the true bull run final leg right now, look for an absolute top at or around $1.71-$1.76 if this occurs!
Comments, criticisms, thoughts are welcome below.